This study augments the neoclassical growth model proposed by Mankiw, Romer, and Weil (1992) to analyze the effects of the property rights protection on the levels of economic performance, measured by per capita GDP, across countries. The augmented model predicts that (1) the accumulation of...

Using data from US states, we find a positive relationship between trust and growth. According to our results, a 10 percentage point increase in trust increases the growth rate of per capita income by 0.5 percentage point, growth rate of housing prices by 1.25 percentage points, and the growth...

This paper investigates the links between corruption and compliance with social distancing during COVID-19 pandemic in America. Both theory and empirical evidence point to a corrosive effect of corruption on trust/social capital which in turn determine people’s behavior towards compliance with...

Several studies have examined whether a portfolio manager having an MBA degree or being a CFA charter holder leads to superior portfolio performance, with generally mixed results. Possible reasons for the mixed findings are that most studies have considered the impact of a manager having either...